He Xiaobing: Gold borderline 1799, crude oil bottomed, rebounded and continued to rise 12.23
This week, gold has continued to move in a wide range. Except for Tuesday’s continuous market before the US market, on Monday, Wednesday and Thursday, gold has been trading in a narrow range around the sub-US $10 range before the US market, and has expanded the range after the US market. And yesterday Thursday after the US market, the range widened and there was a wave of continuous decline. Of course, in this process, the institutions destroyed the market and entered the market with a large number of short orders. In the 1785 area, it bottomed out in recent trading and returned to the upper range of 1790.
Today Friday, the price bounced higher in early trading building on the 1791 shock, and now the price has come to the European session to retest the 1798 area.
Since the weekend is the Christmas holiday and the market will be closed next Monday due to the holiday, today’s gold is still dealing with a partial shock in terms of pace. During the shock, focus on the defensive line for the change of space.
In terms of time rhythm, pay attention to the pace before the US market. Before the US market, the price continues to fluctuate within a narrow range. After the US market, broaden the range while paying attention to continuity. Continue to deal.
In terms of space, the purple trendline has now turned into resistance at the 1799 area and the price has broken down below the lower trace of the red channel line, but the 4-hour pattern has closed and flattened.
That is to say, the price has moved lower, but the shape has not yet formed a trend, so we still need to pay attention to the shock.
The price bottomed out on Tuesday and bounced back to the purple trendline again, forming a strong pull-up and breaking through the 1820-1821 area
Yesterday Thursday, the price rose and fell, and fell below the purple trend line, where it turned into resistance, and the price accelerated to the 1785-1784 area
The current purple trendline is in the 1799 area.
So, for today’s gold, pay attention to the 1799 borderline. If the price suppresses successfully here, pay attention to the 1799-1784 range below. will expand the range.
There are shocks in the process, so you need to pay attention to the issue of continuity, pay attention to each other’s defensive lines, hold the defensive line to maintain the pace, and lose the defense first to change space.
The following is the spot price of crude oil, and the futures price of crude oil is consistent with this
Crude oil had a similar pace over the first four trading days. The European market stepped back to confirmed support, and the US market again stepped back to confirmed support and then broke a new high. accelerated to the 74.5 purple trend line to form this wave of bottoming and bouncing and breaking through the 77.8 area of the high point, the price accelerates to reach the 79.8 area
Yesterday Thursday, without any spatial correction, the price directly hit the 79.8 area after the time correction was completed. After the US market, the price rose and fell to find the previously support and resistance conversion position mentioned in the 77.0-77.1 area, forming support here, and then bottoming out and bouncing back.
And this 77.1 position is the high-to-low transition point that we’ve been waiting for since Wednesday night. We set pending orders here to see if the price bottoms and bounces here. Last night Thursday, we held a position of 77.1 at the end of the day. More pending orders remain unchanged, just in time for a transaction, the price bottomed and rebounded as expected, and the reminder was in effect in the early today trading at 78.4 to start picking.
Next, look at crude oil with the same problem: after hitting the bottom of the spatial correction, the price can maintain continuity and the price will again look for resistance in the high point area and accelerate to find the next resistance point after broken through the highest point.
information reminders for cooperative friends, if necessary, please contact us, look forward to everyone’s profit good news, and pay attention to the market closed next Monday for holidays.
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